Aeon Acquisition I, a blank check company backed by The Aeon Group and Octagon Basketball Europe, lowered the proposed deal size for its upcoming IPO on Monday.
The Miami, FL-based company now plans to raise $125 million by offering 12.5 million units at $10. The company had previously filed to offer 25 million units at the same price. The company also increased the rights per unit from 1/5 to 1/4. At the midpoint of the revised deal size, Aeon Acquisition I will raise -50% less in proceeds than previously anticipated.
Aeon Acquisition I is led by CEO and Director Demetrios Malleos and CFO and Director Alan Lewis, the co-founders of investment firm The Aeon Group. They are joined by CIO and Director Georgios Panou and CSO Alex Saratsis, who are affiliated with international basketball agency Octagon Basketball Europe.
The SPAC plans to target the professional sports and sports-related entertainment industries, with an emphasis on European markets, particularly European basketball. It plans to focus on businesses with enterprise values between $500 million and $1 billion.
Aeon Acquisition I was founded in 2025. It plans to list on the Nasdaq under the symbol AESPU. Chardan Capital Markets and D. Boral Capital are the joint bookrunners on the deal.
